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Institutional design and individual ...

Stewart, Steven L.

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Institutional design and individual choice: Laboratory and theoretical models for the analysis of natural resource dilemmas.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Institutional design and individual choice: Laboratory and theoretical models for the analysis of natural resource dilemmas./
Author:	Stewart, Steven L.
Description:	87 p.
Notes:	Source: Dissertation Abstracts International, Volume: 59-07, Section: A, page: 2630.
Contained By:	Dissertation Abstracts International59-07A.
Subject:	Business Administration, Marketing. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9839224
ISBN:	9780591928730

Institutional design and individual choice: Laboratory and theoretical models for the analysis of natural resource dilemmas.
Stewart, Steven L.

Institutional design and individual choice: Laboratory and theoretical models for the analysis of natural resource dilemmas. - 87 p.

Source: Dissertation Abstracts International, Volume: 59-07, Section: A, page: 2630.

Thesis (Ph.D.)--The University of New Mexico, 1998.

This dissertation provides three independent essays that illustrate how individually rational decisions often result in socially inefficient outcomes. Essays one and two utilize the experimental economics laboratory to analyze individual behavior. The third essay uses optimal control theory to address the efficiency of groundwater extraction from a tributary aquifer. The seemingly disparate themes of the three essays are linked by the general themes of sustainability, economic coordination, free-riding by economic agents, and institutional design.

ISBN: 9780591928730Subjects--Topical Terms:

1017573
Business Administration, Marketing.

Institutional design and individual choice: Laboratory and theoretical models for the analysis of natural resource dilemmas.
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100 1 $a Stewart, Steven L. $3 1684611
245 1 0 $a Institutional design and individual choice: Laboratory and theoretical models for the analysis of natural resource dilemmas.
300 $a 87 p.
500 $a Source: Dissertation Abstracts International, Volume: 59-07, Section: A, page: 2630.
500 $a Chair: David Brookshire.
502 $a Thesis (Ph.D.)--The University of New Mexico, 1998.
520 $a This dissertation provides three independent essays that illustrate how individually rational decisions often result in socially inefficient outcomes. Essays one and two utilize the experimental economics laboratory to analyze individual behavior. The third essay uses optimal control theory to address the efficiency of groundwater extraction from a tributary aquifer. The seemingly disparate themes of the three essays are linked by the general themes of sustainability, economic coordination, free-riding by economic agents, and institutional design.
520 $a The first essay examines the nature of competition between firms in the presence of an external regulator. A firm's advantage in not complying with regulation is that it can produce at a lower cost and undercut rival firms. While risk-seekers were found to cooperate less overall, in the probabilistic detection games risk-seekers cooperated more. The results suggest that as compliance cost increases and there is a known probability of being monitored, risk-seeking firms are more likely to cooperate as the focus of competition shifts from other firms to the regulating agency.
520 $a Essay two examines whether firms will voluntarily respond to the penalty and reward incentives inherent in consumer boycotting and green marketing programs. The essay demonstrates that firms, who generate externalities by their actions, are more likely to consider the externalities they impose on others when faced with penalties for not doing so than when faced with similar rewards. Additionally, the findings suggest that a significant portion of firms will demonstrate altruistic tendencies when there is no financial motive for doing so.
520 $a Essay three addresses the efficiency and sustainability of groundwater use in the Middle Rio Grande Basin. Until recently it was believed that the aquifer underlying the Middle Rio Grande valley was virtually limitless and that pumping was almost completely replaced by streamflow recharge from the Rio Grande. In the early 1990s, the aquifer was found to contain much less useable water than previously thought. In addition, it was found that the recharge to the aquifer from the Rio Grande was smaller than expected. The model developed in essay three investigates the optimal pattern of water use vis-a-vis current conservation and pricing policies.
590 $a School code: 0142.
650 4 $a Business Administration, Marketing. $3 1017573
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, Agricultural. $3 626648
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710 2 $a The University of New Mexico. $3 1018024
773 0 $t Dissertation Abstracts International $g 59-07A.
790 1 0 $a Brookshire, David, $e advisor
790 $a 0142
791 $a Ph.D.
792 $a 1998
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9839224